Virtu Financial LLC Buys Shares of 18,876 Qorvo, Inc. $QRVO

Virtu Financial LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,876 shares of the semiconductor company’s stock, valued at approximately $1,595,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Qorvo by 158.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 1,301 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after buying an additional 51,475 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Qorvo during the second quarter worth $428,000. Finally, Cerity Partners LLC acquired a new stake in shares of Qorvo in the second quarter valued at about $327,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Price Performance

QRVO stock opened at $98.42 on Friday. The firm has a market cap of $8.66 billion, a PE ratio of 27.19, a PEG ratio of 1.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The firm’s 50 day moving average price is $93.40 and its 200-day moving average price is $86.21. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts anticipate that Qorvo, Inc. will post 5.88 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Craig Hallum reissued a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. UBS Group increased their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citigroup raised their target price on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.62.

Insiders Place Their Bets

In other news, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the transaction, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.